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Terry Wade, the new controller of Sar asota Company, has reviewed the expected usefullives and salvage values of selected depreciable assets at the beginning of

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Terry Wade, the new controller of Sar asota Company, has reviewed the expected usefullives and salvage values of selected depreciable assets at the beginning of 2022 . Here ate his findings: Allassets are depreciated by the straight line method.Sarasota Compary uses a calencar year in preparing annual adjusting entries and finandal statements. After discussion, management has agreed to accept Terry's proposed changes. (The "Proposed" useful life is total life not remaining life) Compute the revised annual depreciation on each asset in 2022. Prepare the entry to record depreciation on the bailding in 2022. (Ust all debit entries before credit entries. Credit occount titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts

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